CD rates, stock market, housing (buying homes) food and staples

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icfrugal2
Posts: 536
Joined: Thu May 19, 2022 11:27 am

CD rates, stock market, housing (buying homes) food and staples

Post by icfrugal2 »

Good grief, so much happening so fast, or was I asleep while all of this happened?

So, yesterday I saw CD rates 3 months for 2%!!!!!! WOW !!! today, 3 months at 1.75%

CD one year 2.75% !!! 😊😊

On the stocks, I don't have that much into the market, but what I do have is losing money, but it's all long team, so I don't like it, but I'm not stressed about it.

We aren't buying or selling housing, but we are following the news. It looks like everything just stopped !!!!

I know that it's a "correction" but wow !!!

Of course, since CD rates are going up mortgage rates are going up.

So thankful that we have no debt.

BUT,,,,,, food . gas and stuff is going up, we are feeling it. (we are ok, thank goodness) but scary.

The pandemic, so to speak got us used to not being able to find everything at the store, but does this feel different to you?

On a personal level, DH and I are in our early 70s so we just don't want so much stuff (food ect ) around, we don't really want to stock up on things. does that make sense?

Any thoughts?

What are you feeling?

IC
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MackerelCat
Posts: 7257
Joined: Thu Aug 27, 2015 9:44 pm

Re: CD rates, stock market, housing (buying homes) food and staples

Post by MackerelCat »

I am feeling relieved that our house is paid off, for sure. And quite uneasy about the cost of food, gasoline and everything else. DH is on 14 different medications, and I am very concerned about the cost and availability of those.

Today I put a little over a half a tank of gas in my car (it has an 11 gallon tank) and spent $26.26.
Mackie
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Jackielou
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Joined: Tue Aug 25, 2015 7:51 pm

Re: CD rates, stock market, housing (buying homes) food and staples

Post by Jackielou »

Like Mackie I am glad our home is paid off, but I am worried about the sons. One is getting very close to retirement age and the other just bought a house. I am glad that the one who just bought has a 5 year fixed rate, and I hope the interest rates start to fall at about that time.

Still the price of gas, food, and other such things is scary and I am really glad that both of our sons planted small gardens. Hopefully that will help through the tough times ahead.
Jackie
http://inthelandofthelivingskiesii.blogspot.ca/
Quilter51
Posts: 2815
Joined: Sat Aug 29, 2015 6:04 pm

Re: CD rates, stock market, housing (buying homes) food and staples

Post by Quilter51 »

This is the normal cycling of the economy.

As often happens what's bad for homebyers is better for savers. I'm not buying a home and Im happy to see my kids having better saving rates than the ones recently.

I'm aknowleding that I may need to save more money for any road trips in the near future -but there will be one buy the fall.

Im at that point in my life where I've downsized and although I have certain tastes I can forgo them and entertainmyself at home if I need to.

I don't do alot of stocking up. Im one person. How many cans of soup do I need to buy. I continue to buy things on sale and have a backup or two. I don't have a lot of extra as I'm on a monthly stipend of pension and SS but my goal is to give to my kids even if its a hundred bucks a month and do for them as I can. Hopefully they will put it in their IRA's or inpurchases that are investments.

I'm not a stay at home type but will try and spend most of my discretion spending (restaurants entertainment ans so on) atlocal independent businesses when possible.
LogicsHere
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Joined: Sat Aug 29, 2015 9:49 am

Re: CD rates, stock market, housing (buying homes) food and staples

Post by LogicsHere »

I've been handling the day to day issues just fine but the burden on me is my sister who still isn't able to financially stand on her own. She's close and she figured out she can live on her SS, but she can't have a car payment (which won't be until Feb 2024) and she has to be able to get her Part B premium covered (she meets the requirements) which she hasn't heard anything about and it's been months since she applied. She will be reapplying at the end of the year if she doesn't hear from them I'm covering her loss on those two items in addition to a food allowance because she was only given a $20 allowance from SNAP which is ridiculous on her income. Without the car payment and the Part B premium she can do it and I can handle some extra to her every year but not at the levels of the last 4 years.
HappyDaze
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Joined: Tue Oct 15, 2019 11:11 am

Re: CD rates, stock market, housing (buying homes) food and staples

Post by HappyDaze »

I have actually been thinking about taking what's left of my retirement fund (I've lost $28,000 - yes, I would have to pay taxes on the distribution), paying off my car, and putting the rest into CDs and treasury bonds. Yes, it wouldn't earn much but it wouldn't keep disappearing.

I get that the market goes down, goes back up and people should ride it out - but I'm looking at retirement in 4-ish years, hopefully, so not a lot of time to ride the wave. I have alternate plans for working for 7 more years, but really prefer not to.

I've already decreased my contribution to 10% (putting the difference into savings) and may take it down to 5% (the minimum I can contribute to get my employer's 7%).

I do plan to work part time when I "retire" - I could see myself working seasonally at a greenhouse or at a bakery or something like that - and will most likely sell my house and look to buy something much smaller - or even rent (depending on if I can find a place that will allow me to have a dog).
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
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